Rockbreakers Market: Introduction
Rockbreakers are large machines used to crush or break large rocks into smaller rocks. Rockbreakers consists of two main parts, hydraulic hammer and boom. The boom acts as arm used to move around the hammer, while the hydraulic hammer is used to break the rocks. Rockbreakers are generally used in coal, mining, quarry and metallurgy industries where rock breaking forms an essential part of everyday activity. Given the rise in metallurgy and mining activities and the growing demand for metal ores, the demand for rockbreakers is set to be high over the coming years.
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Rockbreakers Market: Dynamics
The growing scope of use of rockbreakers in mining and metallurgy industries will drive the market in forecast period. Mining industry has seen a stable growth over the past couple of years and is expected to witness a huge growth in the coming years which will drive the rockbreakers market. Metal ores have a huge demand across the construction, agriculture, transportation, manufacturing, communication, utilities and metals manufacturing industry. With many high-tech companies depending on rare earth metals, such as iron, copper, and other earth commodities, mining and metallurgy industries are set to witness huge growth which will drive the rockbreakers market. Rise in commodity prices has led to an increase in mining activities worldwide, creating a greater demand for rockbreakers market.
Environmental concerns has led to decrease in coal mining activities in some parts of the world. However, many developing economies still depend on extraction of coal for their economic growth. This will create a huge demand for rockbreakers market over the forecast period. However, with illegal mining causing hazardous consequences to the ecological balance, the restriction on mining and quarrying operations is expected to restrain the growth of rockbreakers market in certain geographic regions of the globe.
With the rise in inflation and procurement of raw materials getting expensive, the cost of manufacturing rockbreakers will be a challenge. However, increasing commodity prices and mining activities around the will drive the rockbreakers market over the forecast period
Rockbreakers: Market Segmentation
On the basis of industry, the global rockbreakers market has been segmented as:
On the basis of type, the global rockbreakers market has been segmented as:
- Portable Rockbreakers
- Stationary Rockbreakers
On the basis of hammer weight, the global rockbreakers market has been segmented as:
- Upto 2,500 lbs
- 2,500-5,000 lbs
- 5,000-10,000 lbs
- Above 10,000 lbs
RockbreakersMarket: Regional Overview
The ever growing demand for lead, copper, nickel, zinc and other metal ores will drive the rockbreakers market globally owing to the growing urbanization and industrialization in developing economies. In Latin America, mining industry is one of the main drivers of economic growth, especially in countries like Venezuela, Chile, Peru and Brazil. Hence, the Latin America region is expected to register highest growth and major market share in the rockbreakers market over the forecast period. India, China and Australia have seen an increase in coal and metals mining activities over the years and are expected to register huge growth over the forecast period owing to the increased demand metals and coal, driving the rockbreakers market. This will drive the growth of rockbreakers market in the Asia-Pacific region. Russia and Africa regions are experiencing an increase in iron ore mining projects which will in turn drive the demand for rockbreakers. Middle East is expected to register slow growth in the rockbreakers market during the forecast period owing to the lack of mining activities in the region. But the construction sector in the Middle East is experiencing a growth due to the rise in innovative infrastructure projects catering to industrial and tourism sectors. This will create a significant demand for rockbreakers market in the region. Europe will witness a much slower growth in the rockbreakers market over the forecast period as it is a matured market, while North America will register low to moderate growth. Japan, due to the lack on any natural mineral resources in the region, is expected to have the least market share and register minimal growth in the rockbreakers market.
Global RockbreakersMarket: Key Players
Examples of some of the market participants in the global rockbreakersmarket identified across the value chain include:
- Astec Australia
- McQuaid Engineering
- Wuxi Golink Engineering Machinery
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